Financing and Insurance
At Bruckner's our Finance & Insurance Professionals with over 90 years of combined experience are dedicated to find the right solution for you! Our finance team is here to walk you through the entire loan process from start to finish, making it easy to choose and understand the financing option that works best for you.
We work with a large network of lenders to secure the best possible rate and term for your loan.
You can begin the process of securing financing right away by completing our online finance application. We will review it and contact you as soon as we have found a finance plan that suits your needs.
Bruckner Truck Sales, Inc. offers a wide variety of insurance products to meet your business needs. Our five professional Finance and Insurance Managers are licensed and trained to provide our customers with insurance to protect your investment.
- Immediate Coverage
- Special discounts for good driving records
- Easy Payments
- Competitive Rates
- Multi-year rate guaranties allow you to lock in low rates up to 36 months
- Downtime coverage available
- “Diminishing Deductible” benefit (for no claims, on an annual basis) available
- Multiple deductibles, up to $5,000
- 30 day policies for owner operators that are changing haul sources
NON TRUCKING LIABILITY
- Bobtail Insurance – Liability coverage when your truck is not under load or dispatch. Policy limits up to $1,000,000
- Immediate Coverage
- Coverage that protects your investment in the event of a total loss. GAP will pay the difference between your insurance company’s settlement and the balance of your loan,
less your deductible (see policy for details)
- Protection for the term of your loan up to 72 months
- Premium may be included in your monthly payment (with finance company approval)
TOTAL LOSS PROTECTION
- Even with proper insurance and GAP coverage there is still significant financiall loss and out of pocket expenses when replacing your truck. If your vehicle becomes a total loss due to collision or theft, you will receive a credit of up to $10,000(see policy for details) towards the purchase of a new truck to cover
OTHER INSURANCE OPTIONS
- Full line of Liability insurance
- Worker’s Compensation insurance
- Occupational Accident insurance
Reasons to Utilize Bruckner Truck Sales Finance Department
- Convenient “application only” credit process (for under $250k transactions)
- Same day-to-one day credit approvals (for under $250k transactions)
- Minimal down and/or 72 month amortization loans available
- FMV and TRAC Lease products, in addition to loans and lines of credit
- Refinance options to assist with business cash flow during economic down turns
- Keeping bank lines free for working capital needs
- Convenient – “One Stop Shopping”
- Competitive rates
- Our experience and industry expertise (underwriting, sales, product knowledge)
Finance Contracts – standard finance contracts range from 24, 36, 48, 60, or 72 month terms. Payments are in arrears. The unit(s) is titled in the Purchasing Company´s name; a lien is recorded, and is shown on the balance sheet. The Purchasing Company owns the unit(s) once all payments have been made.
TRAC Lease – Terminal Rental Adjustment Clause – are leases that offer the customer the option of returning the unit(s), buying the unit(s), or selling the unit(s) to a third party. Equipment is titled in the name of the finance company. The Lessee pays a fixed monthly lease payment. Payments are in advance. At the end of the lease the Lessee has the option to purchase the unit(s) for the stated residual, sell the unit(s) to a third party, or turn the unit(s) back to the finance company. The finance company will sell the unit(s) and if the unit(s) sales for more than the residual amount the finance company will split the overage with the Lessee. If the unit(s) sells for less than the residual the difference is to be paid by the Lessee. The unit(s) is off balance sheet since this is a lease.
FMV – Fair Market Value Lease – are also called “operating” or “walk away” leases in which the customer may return the unit(s) at the end of the lease term. These are only available to stronger credit quality customers with fleets of 25 or more units and who are leasing five (5) or more new units. Unit(s) is titled in the name of the finance company. The Lessee pays a fixed monthly lease payment. Payments are in advance. The lease has specified return conditions and annual mileage. At the end of the lease the manufacturer takes the unit(s) back. The customer will be billed additionally if the mileage is exceeded or the equipment in not in the condition specified by the lease. The unit(s) is off balance sheet since this is a lease.
A properly documented loan application makes your loan process go smoothly. This checklist will help you gather the paperwork we may need.
- Complete and sign the finance application, our online application makes it easy to fill out the form, print the form, sign the form and fax it back to the number provided.
- If you are salaried: provide W-2's for the previous two years and one month of paystubs. If you are self-employed, provide tax returns for the previous two years, including all schedules, and a YTD profit and loss statement. (Note: provide copies of all requested documents. Do not provide original documents.) Any proof of income you provide will be helpful.
- To speed up the approval process, provide bank statements for the most recent three months.
To improve your chances of getting a loan approval:
- Fill out the finance application completely.
- Respond promptly to any requests for additional documents.
- Anything that causes your debts to increase might have an adverse affect on your current application. So, don’t apply for more credit during the loan process.
Finalize the loan
After your loan is approved, you will be required to sign the final loan documents. This will normally take place at the dealership in the Finance Manager’s office.
- Bring your down payment.
- Review the final loan documents. Make sure that the interest rate and loan terms are what you were promised. Also, verify the accuracy of the name and address on the loan documents.
- Sign the loan documents.
Make sure you have your picture ID with you and current insurance documents or we can provide insurance for your business needs.
When you are doing business with Bruckner’s we are here with you for the long haul!